The conference to implement the National Assembly 's Resolution on the International Financial Center (IFC) in Vietnam took place on the morning of August 2 in Ho Chi Minh City - Photo: VGP/Nhat Bac
Speaking at the Conference on the implementation of the National Assembly's Resolution on the International Financial Center (IFC) in Vietnam (Resolution 222/2025/QH15), which took place on the morning of August 2 in Ho Chi Minh City, chaired by Prime Minister Pham Minh Chinh, leaders of Da Nang City and Ho Chi Minh City said that in recent times, localities have actively coordinated with central ministries and branches, as well as prepared basic steps to be ready to put the IFC into operation in the near future.
Da Nang prepares infrastructure and roadmap to attract investment for international financial center
Secretary of the Da Nang City Party Committee Nguyen Van Quang said that Da Nang City has developed and issued Plan No. 671 to synchronously implement the Resolution, clearly defining the work content, implementation roadmap, and responsibilities of each agency and unit in advising and organizing the implementation of solutions to implement the International Financial Transparency Initiative in Da Nang in accordance with the direction of the Government and the Prime Minister .
Accordingly, Da Nang City has deployed the Vietnam International Financial Center Advisory Council in Da Nang City with 18 members representing ministries, branches, central and local levels, including international experts in the field of finance, financial technology experts... Da Nang has established a Preparatory Committee, the management agency of the International Financial Center to advise and prepare conditions for infrastructure, organizational apparatus of the management agency, and necessary conditions for the International Financial Center to come into operation.
Secretary of the Da Nang City Party Committee Nguyen Van Quang said that the city is ready with infrastructure and a roadmap to attract investment for the International Financial Center - Photo: VGP/Nhat Bac
After the National Assembly Resolution was issued, the City is urgently coordinating with the Ministry of Finance to draft a decree regulating the establishment of the International Financial Center. Striving to submit it to the Prime Minister for consideration and promulgation in September 2025.
Regarding infrastructure, Da Nang has proactively planned strategic land funds, ensuring a favorable location right in the urban center, ensuring the connection of the International Financial Center in Da Nang with Da Nang International Airport within a radius of about 5km.
In the immediate future, a 22-storey building will be built at Software Park No. 2, with a usable area of 27,000 m2, which can be put into use by the end of 2025.
In the period of 2025-2027, the City will focus on promoting and attracting infrastructure investment, developing a financial center ecosystem on clean land, with a planned area near the sea with an area of about 6.17 hectares meeting international standards and currently there are many investors developing infrastructure in this area. In addition, the City is also preparing land to form a digital financial center with 11.6 hectares, adjacent to software park No. 2.
At the same time, Da Nang is actively implementing the project to form a national dynamic urban area with 5 artificial islands of 1,500 hectares. Forming an international urban space in the direction of green, smart, ecological. Of which, 300 hectares are expected to develop commercial financial services, digital finance, connecting with the high-tech park, free trade zone of Da Nang city.
Regarding digital infrastructure: The city is promoting investment in many information technology infrastructure projects, innovation, many semiconductor and AI projects with the participation of large FDI corporations.
Regarding human resources: Da Nang has proactively developed policies to train high-quality human resources to supplement human resources for the International Center for Information and Communications.
The city also trains and sends staff to study and train at financial centers around the world to serve the city. At the same time, it builds financial mechanisms to be able to recruit talented people and international experts with extensive experience to work at the International Financial Center in Da Nang. The city is determined to build a professional apparatus with international experience to lay the foundation for the development of the International Financial Center in Da Nang.
Regarding investment promotion and attraction: Da Nang has been promoting to sign with international strategic partners such as banks, investment funds, Blockchain centers, major financial institutions in the world, ... to enhance the position of the International Financial Center in Da Nang. It is expected that in August 2025, Da Nang will organize the 2025 Annual Financial Forum, contributing to the formation and opening up of bilateral cooperation opportunities between Vietnam and the international community in the financial sector. Positioning Da Nang as a center of digital finance, industry, blockchain, Blockchain .... connecting with emerging financial centers in the world.
Chairman of Ho Chi Minh City People's Committee Nguyen Van Duoc speaks at the event. Photo: VGP/Nhat Bac
Ho Chi Minh City focuses on 6 solutions
Chairman of the Ho Chi Minh City People's Committee Nguyen Van Duoc said that, implementing the direction of the Politburo, the Government, and the Prime Minister, the Standing Committee of the Ho Chi Minh City Party Committee issued a Decision to establish a Steering Committee for the construction and development of the International Financial Center in Ho Chi Minh City; the Ho Chi Minh City People's Committee issued a Plan to implement the conclusions of the Politburo and the Resolution of the Government.
The Chairman of the Ho Chi Minh City People's Committee said that Ho Chi Minh City focuses on a number of key solutions and action plans.
One is to organize dissemination, propaganda, and raise awareness to create unity in the entire political system and consensus among all classes of people.
The second is to build and specifically implement the institutions and policies of the international financial center in Vietnam that have been issued by the National Assembly.
Third is to focus on arranging and mobilizing all resources to build spatial infrastructure to operate and develop the International Financial Center.
Accordingly, the City has prepared a land area of about 10 hectares right in the center of the modern Thu Thiem Urban Area, worthy of the position of the International Financial Center. In the immediate future, Ho Chi Minh City will choose building No. 8 Nguyen Hue (Saigon Ward) as the headquarters of the Ho Chi Minh City Financial Center during the construction and completion of the International Financial Center in Thu Thiem.
Fourth is to develop financial services and capital markets, prioritizing green financial products and digital finance;
The fifth is to prepare human resource training to serve the management and operation of the International Financial Center.
Paying attention to this issue, Mr. Nguyen Van Duoc said that currently, Ho Chi Minh City has prepared a leadership framework and an organizational apparatus consisting of 4 departments; is recruiting personnel with professional qualifications and experience in the fields of finance and securities. Ho Chi Minh City also cooperates with the Vietnam-Germany University to train human resources, then send them to international financial centers around the world to study in practice and then return to Ho Chi Minh City to work.
The sixth is to promote investment and international cooperation and brand promotion. It is expected that in August 2025, Ho Chi Minh City will sign a memorandum of understanding with two prestigious international financial centers in the world.
International investors highly appreciate Vietnam's determination to develop the international financial market. Photo: VGP/Nhat Bac
Financial institutions and investors "eagerly" await the International Financial Market in Vietnam
Sharing at the conference, Chairman of the Board of Directors of Ho Chi Minh City Securities Corporation (HSC), Mr. Johan Nyvene emphasized that the establishment of the International Financial Center creates a new driving force for development, "Innovation 2.0 in Vietnam", making a great contribution to the country's economy.
Mr. Johan Nyvene said that while many countries are still struggling to choose a development direction, Vietnam has chosen its own direction with a focus on developing the digital economy and high technology. In particular, TTTCQT hopes to attract many talents in the fields of technology, artificial intelligence, crypto assets...
"HSC is committed to being a bridge for financial investment funds and international investors to participate in the International Financial Market in Vietnam in general and Ho Chi Minh City in particular. Enterprises and financial institutions are holding high expectations and are eagerly awaiting the establishment of the International Financial Market in Vietnam," said the Chairman of HSC.
Mr. Pham Hong Hai, General Director of OCB Bank, said that the establishment of the International Financial Center is an inevitable process, because when many foreign investment capital flows into Vietnam, it is necessary to have a system to provide all financial services. In the coming time, Vietnam will have many great opportunities when many world factories are expected to continue to "pour" into Vietnam; providing all financial services.
However, Mr. Hai also said that as a latecomer, the initial establishment of the International Financial Center in Vietnam will have many opportunities and challenges. Therefore, determining the competitive strengths is very important. "In terms of digitalization, green financial solutions, and providing finance for start-up businesses, Vietnam can take a shortcut compared to financial centers in other countries," Mr. Hai suggested.
Mr. William Lawrenson, Deputy Consul General of the United Kingdom in Ho Chi Minh City, commented that Vietnam has set clear goals, the International Financial Centers in Da Nang and Ho Chi Minh City help mobilize resources for green growth and digital financial centers.
In recent times, the UK has been a trusted partner of Vietnam and is supporting Vietnam in training and consulting to help Vietnam build and operate the International Financial Center in Vietnam. British financial institutions and investors have been present in Vietnam and are ready to increase investment in the International Financial Center, creating a premise for close cooperation between the UK and Vietnam.
Le Anh
Source: https://baochinhphu.vn/xay-dung-trung-tam-tai-chinh-quoc-te-tai-viet-nam-dia-phuong-nha-dau-tu-deu-san-sang-102250802115758648.htm
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